CryptoKitties Sales Pass $12M
CryptoKitties, which can be called an Ethereum-based, cat collecting game, managed to sell more than $ 12 million in the decentralized marketplace.
We mentioned in previous articles about CryptoKitties that the game resembles Pokemon a bit.. CryptoKitties is a decentralized application (dapp) built on top of the Ethereum protocol.. Each digital cat represents a unique cryptocurrency asset and, thanks to the stability of the Ethereum blockchain, their ownership cannot be changed.
Expensive Cats
The five rarest cats on the CryptoKitties platform, according to cat sales, are individually they were sold separately for more than $100,000. The most expensive of these cats sold for $120,000. Some analysts and researchers have questioned the value of these digital cats and whether the platform will survive in the long run.
Bigger
While the vast majority of CryptoKitties’ critics saw the game as just simple cat collecting, prominent venture capital investors Balaji Srinivasan thinks differently. Srinivasan, co-founder of Andreessen Horowitz and CEO of Earn.com, believes that CryptoKitties demonstrates that large-scale international trade is possible on the blockchain.. According to Srinivasan, CryptoKitties has demonstrated that any asset can be used to trade completely decentralized without intermediaries.
Any digital asset on a decentralized platform using the same mechanism and technology used by CryptoKitties. the asset is tradable. This technology gets more interesting if you look at the CryptoKitties platform not just as a simple cat collecting game but as a peer-to-peer platform where a digital asset can be traded.
In the long run, investors and traders will be able to trade digital assets with decentralized applications on the Ethereum network what they can do. In this way, they will no longer have to rely on centralized platforms that are open to different threats and equipped with very strict Know Your Customer (KYC) and Anti-Money Laundering (AML) policies.
There is No Such Thing as Real Value
Bitcoin and other currencies in the cryptocurrency market have shown that the idea of “prime value” can be wrong. Value is a subjective thing and it is not possible to say “that’s exactly what it should cost” for any product or currency in the global market.
For example, Ethereum founder Vitalik Buterin, Leonardo Da Vinci’s “Salvator Mundi” He showed the table named. Da Vinci painting bought by a Saudi prince at auction for $450 million. For Saudi Prince Bader bin Abdullah bin Mohammed, who bought the painting, this painting may actually be worth $450 million, but for others it may be worth a different amount.
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Crypto (kitties) is a reflection of the world at large.
— Vitalik Buterin (@VitalikButerin) December 9, 2017
“Crypto (kitties) is a reflection of the wider world.”
Buterin also commented on CryptoKitties:
“It shows that the value of blockchain goes far beyond apps that banks or their governments will shut down because they don’t use them.”
The value of digital cats on the CryptoKitties platform depends on how rare they are found. Just like all cryptocurrencies on the market, these cats have a certain limit.. But as highlighted above, although CryptoKitties may seem like just a cat game, it’s representative of something much bigger.. CryptoKitties demonstrated that digital assets can be traded seamlessly on a decentralized platform with no middlemen. In other words, this technology can be used in much larger sectors such as finance.
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